Man Infraconstruction’s share price rose over 2 per cent in intraday trade on the BSE on Wednesday, August 20, after two of its promoters increased their stake in the company.
The realty stock opened at ₹159 against its previous close of ₹158.35 and rose 2.5 per cent to an intraday high of ₹162.30.
Man Infraconstruction: Promoters raise stake
According to the company’s exchange filing, promoter and director Parag K. Shah acquired 1,00,000 shares of the company for ₹1,59,49,000 through market purchase on August 18.
Subsequently, on August 19, Shah acquired another 3,61,959 shares worth ₹5,79,06,201 through market purchase. Following these two transactions, his stake in the company has risen to 11,80,46,965 shares, equivalent to a 29.24 per cent stake.
Man Infraconstruction share price trend
The real estate stock has been under pressure lately. Year-to-date, Man Infraconstruction shares have declined 36 per cent. On a monthly scale, the stock is down over 7 per cent in August after a nearly 4 per cent fall in July.
Man Infra shares hit a 52-week low of ₹135.05 on March 17 this year after hitting a 52-week high of ₹262.50 on December 30 last year.
Man Infraconstruction Q1 results
In an exchange filing on August 13, the company reported a 28.3 per cent year-on-year (YoY) fall in its profit for Q1FY26 to ₹55.57 crore from ₹77.50 crore in the same quarter last year.
Revenue from operations for the quarter under review declined 46.5 per cent YoY to ₹182.90 crore from ₹341.62 crore in Q1FY25.